LEGAL ADVISORY - OUR CIBIL LAWYER

Our attorneys and CIBIL lawyers can provide legal notices, bank account closures for salaries, ECS halts, bank account liens, arbitration hearing and order requests, returned checks, and court appearances.

If the PDP is the best choice, our Insolvency Lawyers (IL) and Certified Accountants (CA) will set up and manage any unsecured obligations under it. PDP is a programme under the control of the IL and CA that evaluates all unsecured loans by conducting a thorough "financial health audit" on each account for an unsecured loan.

A "financial health audit" is a procedure where all unsecured loan agreements are examined to make sure that the creditors complied with all RBI guidelines, including "irresponsible lending," before sanctioning the unsecured loans and that the interest was charged in accordance with the terms and conditions of the loan agreement.

Our IL will consider asking for the interest and charges to be written off if it is determined that the creditors did not follow the RBI requirements, there was irresponsible lending, or the interest was not applied correctly. The potential of turning a high interest loan, such as a payday loan or credit card debt, into a secured loan or a long-term personal loan will also be looked at by IL.

In accordance with the Insolvency Law, which regulates some areas of financial debt, our CIBIL lawyer also offers insolvency services. When a business can no longer afford to pay its debts, insolvency results. The two primary categories are balance sheet insolvencies, which occur when a company's liabilities considerably outweigh its assets, and inability to pay debts when they are due. The latter is tied to cash flow issues.

A corporation that has illiquid assets and a positive balance sheet, but is unable to pay its short-term debts, is said to be in a cash flow insolvent position per insolvency law. The corporation may still have adequate cash flow to cover day-to-day expenses but not to pay down long-term debt when the assets of the company go into a negative situation where the liabilities exceed the assets.

Because of the numerous insolvencies that have occurred in recent years, the emphasis has switched from asset liquidation to helping struggling enterprises. It's easy to understand why. Suppliers, customers, shareholders, and employees are all impacted in addition to the company itself. It is best to reduce the impact, so efforts can be done to help a company get back on its feet through debt restructuring. Single Debt can help your company with all of its insolvency law requirements.

  • Our CIBIL lawyer does a thorough "legal audit" of your loan arrangement and verifies that procedures were followed before the financial institutions offered the loan.
  • Will investigate the legality of the Creditors' right to collect the debt.
  • Legally haggle for revised repayment terms that you can afford while making sure it won't affect your credit score.
  • Respond to all e-mails and phone calls from your creditors on any legal matters arising from your debts.
  • Conduct a thorough "legal due diligence" investigation into any ongoing lawsuits involving bounced checks.
  • Verify the accuracy of the entries in your credit file by legally checking it.
  • Advice on any information that needs to be corrected on your credit report.
  • For your loans, we perform a "complete financial health check" to make sure the appropriate interest has been charged.